Global Food Waste Management Market to Grow at 5.7% During 2024-2032, Accelerated by Increasing Awareness About the Adverse Environmental Impact of Food Waste

June 23, 2023 | Food & Beverages

As per the latest report by IMARC Group, titled "Food Waste Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the global food waste management market is expected to exhibit a growth rate (CAGR) of 5.7% during 2024-2032. Food waste management is a critical process aimed at reducing and effectively handling the vast amount of food waste generated worldwide. It encompasses various strategies and practices that contribute to minimizing the environmental impact, conserving resources, and addressing global food security concerns. Prevention is a fundamental aspect of food waste management, focusing on reducing the generation of food waste at its source. It involves implementing measures, such as improved inventory management, careful meal planning, and consumer education, to encourage responsible consumption. The recovery of edible food is another critical component of food waste management that involves collecting surplus or unsold food from various sources such as restaurants, supermarkets, and farms. Recycling is also an essential strategy in food waste management, particularly for food that cannot be recovered for human consumption. This process typically converts organic waste into valuable resources such as compost or energy. Food waste management offers numerous advantages, such as mitigating environmental degradation by reducing greenhouse gas emissions that result from decomposing food waste in landfills. Additionally, it conserves vital resources, such as water and energy, that are utilized in food production, thereby promoting sustainable practices. Moreover, effective food waste management contributes to social welfare by addressing food insecurity and reducing the economic burden associated with waste disposal.

Global Food Waste Management Market Trends:

The increasing awareness about the adverse environmental impact of food waste has led to the implementation of stringent regulations and policies by governments worldwide, which represents one of the primary factors creating a positive outlook for the market. Moreover, the rising population and rapid urbanization have resulted in higher food consumption, leading to an increase in food waste generation, thereby fueling the market growth. The growing emphasis on sustainability and resource conservation has prompted industries and organizations to adopt advanced technologies and innovative solutions for food waste management, which is acting as another growth-inducing factor. Besides this, the rising demand for organic fertilizers and animal feed from the agriculture sector and the surging adoption of smart waste management systems, such as IoT-based sensors and data analytics, are providing an impetus to the market growth. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) algorithms and the implementation of comprehensive food waste management strategies across various industries are supporting the market growth. In line with this, increasing collaborations and partnerships between government bodies, private organizations, and non-governmental organizations (NGOs) and the rising trend of food waste reduction campaigns and initiatives by consumer awareness groups and non-profit organizations are propelling the market growth. 

Market Summary: 

  • By the waste type, the market is segregated into cereals, dairy products, fruits and vegetables, fish and sea food, processed food, and others.
  • On the basis of the process, the market is categorized into aerobic digestion, anaerobic digestion, combustion/incineration, and others.
  • Based on the source, the market is divided into primary food producers, food manufacturers, food distributors and suppliers, food service providers, and municipalities and households.
  • By the application, the market is segmented into animal feed, fertilizers, biofuel, and power generation.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. 
  • The competitive landscape of the industry has also been examined with some of the key players being Clean Harbors Inc., Covanta Holding Corporation, FCC Environment (UK) Limited, Hulsey Environmental Services Inc., Remondis SE and Co. KG, Republic Services Inc., Stericycle Inc., Suez (Sofina), Veolia and Waste Management Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Waste Type, Process, Source, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Clean Harbors Inc., Covanta Holding Corporation, FCC Environment (UK) Limited, Hulsey Environmental Services Inc., Remondis SE and Co. KG, Republic Services Inc., Stericycle Inc., Suez (Sofina), Veolia and Waste Management Inc.
Customization Scope 10% Free Customization
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Global Food Waste Management Market to Grow at 5.7% During 2024-2032, Accelerated by Increasing Awareness About the Adverse Environmental Impact of Food Waste
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